Saturday, October 24, 2009

Rich Germans Demand Higher Taxes

A group of rich Germans has launched a petition calling for the government to make wealthy people pay higher taxes.The group say they have more money than they need, and the extra revenue could fund economic and social programmes to aid Germany's economic recovery.

If someone believes that government spending is the answer, and that person voluntarily throws more money into the gaping maw of the beast, that person is worthy of our grudging respect.

If someone believes that government spending is the answer, and that person advocates forcing others, at gunpoint, to throw more money into the gaping maw of the beast, then that person is beneath contempt.

Germany could raise 100bn euros (£91bn) if the richest people paid a 5% wealth tax for two years, they say.

But do you think they would leave their 100% intact in Germany to allow earnest pocket-pickers to have their way with it? Or do you think this wealth tax would have some unforeseen effects?

The petition has 44 signatories so far, and will be presented to newly re-elected Chancellor Angela Merkel.The group say the financial crisis is leading to an increase in unemployment, poverty and social inequality.

Which is more likely to increase unemployment - allowing the wealthy to invest their money in whatever they they believe will create the biggest return on investment? Or letting the government spend the money on some random unholy cause?

Simply donating money to deal with the problems is not enough, they want a change in the whole approach."The path out of the crisis must be paved with massive investment in ecology, education and social justice," they say in the petition.

Those who had "made a fortune through inheritance, hard work, hard-working, successful entrepreneurship, or investment" should contribute by paying more to alleviate the crisis.The man behind the petition, Dieter Lehmkuhl, told Berlin's Tagesspiegel that there were 2.2 million people in Germany with a fortune of more than 500,000 euros.If they all paid the tax for two years, Germany could raise 100bn euros to fund ecological programmes, education and social projects, said the retired doctor and heir to a brewery.

Idea for a short-lived blog....a list of succesful government funded social projects.

Signatory Peter Vollmer told AFP news agency he was supporting the proposal because he had inherited "a lot of money I do not need".

Pete, here's an idea. Invest your money with someone who wants to grow and hire people. Put it to work. Don't invest it in a grievance factory.

He said the tax would be "a viable and socially acceptable way out of the flagrant budget crisis".

That was the #2 money quote right there. Socially acceptable. Because creating jobs by producing things people need is just so....tacky.

The group held a demonstration in Berlin on Wednesday to draw attention to their plans, throwing fake banknotes into the air.

It would be interesting to see, out of all those 2.2 million rich Germans, how many had inherited their money, and how many had EARNED their money. Then compare that to the 44 signatories to the "5% Rich-People Tax Bill" & check the correlation between the two. I'll bet you a dollar to a doughnut there'd be a VERY high correlation.

And I see that Mr Socialist is talking about only two years. What do you want to bet that if this abomination ever goes forward, there would be no "sunset clause" in it?"There is nothing so permanent as a temporary government agency",President Reagan.

And TLP is right. Make it totally voluntary. Keep your f**n' mitts out of my pockets!